Well in that case, it is really legally an acquisition by ORE of GXY instead of a merger between ORE and GXY.
There is even a penalty clause for GXY ( of $16M ) if GXY board / directors recommend against the scheme and instead recommends a competing bid, but no penalty clause if ORE did the same.
It may be promoted or marketed as a merger but it appears that the legal constructs are an acquisition.
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- Ann: Orocobre and Galaxy Proposed Merger
Ann: Orocobre and Galaxy Proposed Merger, page-161
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